NAMA Commercial Vehicle Report – July 2015

Published 18/08/2015 00:00:00 in Press Releases

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for July today.

The report shows that the average value of used LCV’s at auction across the board decreased -4.5% compared to June 2015. Volumes saw a 2.7% increase to 10,478 units, and the average age of LCV’s sold at auction remained at 67.7 months.

The average price achieved for LCV’s increased in July by 1%. However, compared to this period last year, average prices sat 4.5% lower. Whilst it is interesting to compare average selling prices and it is a measure that has long been used by auction companies, it is difficult to draw any cast-iron conclusions without looking at a more granular level, as factors including volume, mix, age and mileage can affect the output.

Units sold in July increased for the third consecutive month to 10,478. Units under 2 years of age increased by 18.4% over the previous month and 43% over this year’s low point in May.

Alex Wright, NAMA LCV Chairman comments, “This month’s NAMA LCV report suggests that vendors that are going to the market are reaping the rewards and moving stock along. In comparison, those following the books are paying the price and are sitting on stock for a lot longer.

“Increased volumes have contributed to slowing conversion rates, and average prices have also fallen. This has been compounded by manufacturers driving new sales through purchasing and leasing.

“The commercial market is definitely showing signs that it has reached its peak in terms of prices, however we are not anticipating a significant decline in prices - just a slight depreciation.

“The average age of vehicles has increased over this time last year – suggesting that there is still a great influx of older vehicles washing through.

“We are by no means concerned following the -6.7 drop over July 2014, as historically July and August are typically quitter months due to the summer holidays and this is now seen as a seasonal trend. We hope to sales of LCV’s grow over the coming months.”

 

ENDS

Notes for editors: NAMA is the auction division of the RMI.  NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

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